MAKE THE POST OFFICE INTO A BANK?
A presidential candidate has brought up the idea, which I have written about in the past, that the Postal Service could expand the services it provides to include consumer financial services. This idea has been pitched as a way to both improve the availability of small-dollar banking services for consumers and bolster the financial condition of the Postal Service.
Maybe I’m missing something, but if the banks can’t make a profit from providing small-dollar services to consumers, how will the Postal Service make a profit from providing those services?
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